MaidSafeCoin (MAID)

MaidSafeCoin (MAID) Review — Crypto Coin Judge

What if the next internet is completely decentralized? Well, it will revolutionize the way we work. Enter MaidSafeCoin (MAID). This crypto project initially seems to be yet another fully protected cloud storage service—an end-to-end solution that is dependent on the cloud, but that is not the case.

A deeper analysis of the project provides insights into how the future of the internet will possibly look and feel. A future where the internet becomes decentralized, inexpensive, and efficient, and even lets its users make money.

Here is a complete rundown on the interim MAID coin and its respective decentralized data network known as Secure Access For Everyone (SAFE).

MaidSafeCoin History

The centralized servers have their own issues, so decentralization is the way forward. The world of decentralization storage is reinventing itself and this reinvention has been accelerated by crypto’s evolution. When discussing decentralizing the entire internet, we are talking about MAID coin’s platform—SAFE.

Unlike other cryptocurrency platforms such as RaiBlocks, Ripple, SALT and more, the SAFE network has been in development since 2006—long before Satoshi Nakamoto gave the world Bitcoins and blockchain. Located in Troon, Scotland, the core development team behind SAFE was sure that it would be revolutionary if all the internet resources were put together on a decentralized network.

It did not take long for this idea to begin to take shape. Once the alpha version of the SAFE network went live, it successfully tackled a number of weaknesses that were common to the centralized internet. As a decentralized network, SAFE began by removing servers and all other central weaknesses thus enabling complete security, privacy, and anonymity to all the netizens for the first time.

The MaidSafeCoin team

The MaidSafeCoin team has worked very hard to make sure that the internet 2.0 will be unveiled soon, with the help of this crypto and its respective SAFE network. This team includes cryptographers, networking specialists, and developers who are passionate about bringing decentralization to the internet landscape. With time, the team believes that the decentralization architecture will act as an alternative to the mammoth World Wide Web.

MaidSafeCoin Analysis

What isMaidSafeCoin and the SAFE network?

Crypto coins are usually developed for several reasons including improved security, faster transactions, and more. However, the developers behind MAID created this altcoin especially for the SAFE network. If you want to be a small part of the world’s biggest, first-ever autonomous data network, SAFE, then it is worth considering adding this altcoin to your crypto portfolio without any delay.

Understanding the SAFE network

When users start to show interest in the SAFE network’s decentralized excellence, the power and value of the MAID coin will strengthen. What makes SAFE and its cryptocurrency so special? Well, on the SAFE network, different data packets remain secured because they are powerfully encrypted and stored in a decentralized way. In short, this network is autonomously decentralized. However, it is neither a group of owned storage locations/ federated services/identifiable nodes nor is it a part of a blockchain.

This network has its own builders and farmers which makes it very stable. The farmers are one set of network users running different nodes for this system; while the builders are the actual developers who are making different applications for the network.

Once the job of the farmers and builders is finished, this system will reward them by giving them MAID coins. The system also has a smart contract in place for making sure that the builders and farmers do not invest a lot but earn more through SAFE. If you are still confused about the concept of farmers and builders, just think of them as miners who mine traditional digital currencies like Ardor, Bitconnect, Bitshares etc..

Difference between MaidSafeCoin and SafeCoin

In fact, the MAID coin is just an interim digital token. You can think of MAID coins as the predecessor of SafeCoin. As only the SAFE network’s alpha version has been released, the MAID coin has gone live. But these coins will become SafeCoin once the SAFE network goes completely live.

The exchange between SafeCoin and MaidSafeCoin will not happen on a blockchain and will take place on a 1:1 ratio. So, in short, MAID will be redeemable once the platform is announced and is free to be used by any person located anywhere in the world.

MaidSafeCoin innovation is about security

The SAFE network works over a hash table that is based on Kademlia.

Via this hash table, it is simpler and quicker to not only establish but also maintain network consensus on the stored communication and data.

This network relies on four authorities, which makes the network’s consensus mechanism very complex.

This complex mechanism is therefore hard to hack, making it extremely secure. Furthermore, this network optimizes reliability, privacy, resilience, and speed.

On the network, only certain dimensions are localized (such as the right to read the data).

Other dimensions are completely globalized (such as the right to create a name or write data).

The data is cut up into chunks that are encrypted locally and distributed across the network. The network always keeps redundant copies of nearly every important data item. Maintaining these data copies prevents any type of data loss.

In addition, the network implements multi-hop routing taking privacy to the next level.

MaidSafeCoin Mining

The main purpose of any cryptocurrency is to keep its corresponding blockchain stable at all times. Mining fulfills this purpose. For instance, Bitcoins have Bitcoin mining; likewise, Ethereum mining is there for maintaining the stability of the Ethereum blockchain.

In the same way, MAID coins need to ensure that the entire SAFE network is always present in the best condition. With the help of MaidSafeCoin mining, miners can make sure that the entire network’s stability is maintained. In the case of MAID coins, mining is usually called farming.

The mining process

Unlike traditional crypto mining, MAID mining consists of two types of users: the builders and farmers. Both of these users are needed to ensure that every single transaction is verified.

The farmers: These users run and manage different nodes on the SAFE network. The farmers are responsible for providing the resources to the system, and that is how they contribute, by producing/mining/farming more coins. Additionally, the farmers are responsible for fixing the proof of resource model that is released by the network. Afterwards, the farmers will simply place the data on the vault assigned to them. Finally, the data set that the farmers receive on their vaults bring certain rewards.

The builders: The builders are responsible for creating the applications the network will need. The network will accept the application and will use it for storing data. For this work, the builders will receive rewards in the form of MAID coins.

How to mine MaidSafeCoin

Different users choose to become either a farmer or a builder based on the rewards MAID mining brings.

Regardless of the choice, you will need to have a lot of storage space as the resource of proof may be tricky to solve.

Your CPU should be in excellent condition as it will be deployed 24/7 while you are building or farming.

Another significant factor will be the bandwidth, as you will need to constantly fix the proof of resource in order to offer clients seamless confirmation of all their transactions.

Farming and building are time-consuming tasks, so you will need to spend a lot of time.

Since your machine will be working for a long time, you should be prepared for a sharp rise in your electricity bill.

MaidSafeCoin Wallet

Until the SAFE network goes live, MAID coins will be the sole unit of currency fueling this decentralized system. If you purchased the coins during the crowd sale, they will be available in the Bitcoin address that was used for buying them.

In some cases, however, these cryptos will not be visible in the wallet software, but they will be safe as long as your private key or machine is secure. If, however, you want to view the coins in your wallet, you can see them by using the info explorer. In the explorer, you need to insert the Bitcoin address inside the search bar.

Additionally, you may set up an account with Omniwallet—a third-party wallet. With this wallet, you will view the coins and seamlessly transfer them to another address such as an offline Bitcoin wallet, Bitshares Wallet, etc.. In order to transfer the coins in the Omniwallet, you will need to import the private key first.

How to buy MaidSafeCoin

Initially, as a proxy token, MAID coins were made available through a crowdsale. However, once the SAFE network becomes operational, these proxy coins will be swapped for Safecoins on a 1:1 basis. The current way of obtaining the MAID coins is by buying them through a few exchanges. Here are the different exchanges that have listed the MAID crypto.

io

Bittrex

Poloniex

Livecoin

Yuanbao

MaidSafeCoin versus Bitcoins

Bitcoin is just a volatile currency based on a blockchain. Other than secured transactions, Bitcoins are not backed by any substantial concept—something that can improve its value in the future. However, MaidSafeCoin coins are the currency of a decentralized network that has been dubbed the Internet 2.0 by many crypto aficionados.

MaidSafeCoin in the news

MaidSafe rolls out community engagement programs to improve the awareness and development of the SAFE network

In a bid to strengthen the SAFE network’s credibility and popularity, MaidSafe has launched a fully-fledged community engagement program. This program will inform the existing and prospective users about the network’s cutting-edge core capability. For more information on this, click here http://ownetech.com/maidsafe-launches-community-engagement-programme-to-accelerate-safe-network-development-and-awareness/ and read the complete story.

MaidSafeCoin price

At the time of writing this:,

The price of MAID cryptocoin is USD1.03.

The total market cap of this coin is USD464,658,189, which is equivalent to 29,156 BTC or 5,025,459 OMNI.

The circulating supply of MAID coins is near 452,552,412.

The future of MaidSafeCoin

Frankly, the future of this crypto, quite like other presently available cryptos such as BitShares, Cardano, Dent, looks bright because the concept of having a decentralized internet is a fresh one. As more and more networks—whether data networks or social media—make the shift to decentralization, MaidSafeCoin coins’ value will grow. Just keep an eye on MAID because it is all set to seriously disrupt the internet landscape for the better.

MaidSafeCoin summary

This crypto and its respective SAFE network are successfully shaping the future of the resource-based economy. In the near future, this digital coin will most likely rise in its value purely because the decentralized network will gain acceptance. By using the most advanced P2P technology, SAFE will have the capability to secure the movement of data across itself. Keeping in mind its robust security and privacy features, SAFE will rise and with it will rise its crypto.

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